Eye on Higher Tech Spend in 2024: Cyfuture’s Poised Growth Stand in this Episode!

Feb 20,2024 by Savar Bhatia
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Do you know that there are thousands of innovations that take place in the tech landscape every year? As per Statista, it is estimated that the emerging tech will experience a growth rate of 104% in the upcoming years, which is surprisingly massive. In a world revolutionized by technology, human lives have not only been made easier but also made tech-oriented. Let’s take an example of mobile phones. Back in the early 2000’s mobile phones were bulky and had limited use. But within the last 10 years, smartphones have transformed the tech industry and fueled growth and innovation. Smartphones have not only made our lives easier but have opened new doors for us. Similarly, various smart gadgets and other related tech products have made a significant contribution.

But what about the digital world? Do you remember the time when Windows XP was the most common operating system? Being nostalgic, Windows XP has been a key driver in revamping the digital landscape. From Windows 2007 to Windows 11, we have witnessed how fast the technology grows and becomes a huge part of our lives. Similarly, the way websites were hosted using the traditional architecture has been completely taken over by the cloud. Cloud technology is a vital driver of today’s technological progress. Powered by data centers, the cloud is truly transforming the digital landscape. Moreover, it is showcasing its resilience even during uncertain times.

Let’s rewind to 2019 where Covid-19 outbreak had impacted the entire world and led to strict lockdowns across the globe. While all industries and businesses were severely impacted, the only industry to be on a boom was the tech industry. While schools and offices were completely shut, students and employees across the globe needed an effective way to communicate and collaborate. The answer was the internet. As per reports, internet services have seen growth in usage from 40 % to 100 %, compared to pre-lockdown levels. Video-conferencing services like Zoom, Google Meet, and Microsoft Teams have seen a ten-times increase in usage. 

Additionally, content delivery services like Akamai have seen a 30 % increase in content usage. 

Apart from cloud, there are major innovations that are taking place in the digital ecosystem. Ranging from diverse industries, all innovations have a common goal which is to promote automation. Automation not only simplifies the work and streamlines it, but also enhances the overall productivity and efficiency. 

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Tech Innovations in 2024

Tech Innovations in 2024

We previously saw some innovations that took place a while ago. But, we need to remember that innovations happen continuously and will continue in the future too. Therefore, let us take a look at some innovations that are expected to be unveiled in 2024.

Generative AI to Take the Center Stage

It may seem obvious to start with generative artificial intelligence, but it has become arguably the most influential technology. We have only seen its first steps, and 2024 will be when we really start seeing its full potential. In addition, we may see a focus on democratizing knowledge and training across different business roles and functions, as well as technical.

Gartner predicts that “by 2026, more than 80% of enterprises will have used Generative AI APIs and models and/or deployed GenAI-enabled applications in production environments. This eye-catching figure will help bring new products to market faster, increase business efficiency and productivity, hyper-personalization, and the most advanced technology available today, within everyone’s reach.

New Launches Witnessed at CES 2024

The CES 2024 event in Las Vegas showcases an ocean of innovation, featuring futuristic technologies and product launches across various industries. One of the key themes dominating the event has been the integration and advancement of artificial intelligence (AI) in diverse applications, ranging from smartphones and gaming devices to automotive and smart home solutions. AI is not just a technology, but the future of our lifestyle. All these smart devices and gadgets feature cutting-edge technology and innovations that tend to make human lives easier by promoting automation.

Quantum Computing Technology

Quantum computing is a groundbreaking technology that has the potential to revolutionize traditional computing by offering immense computing power and speed. Leveraging quantum mechanics, quantum computers can solve complex problems and perform calculations previously impossible for classical computers. The quantum computing industry is so huge that the global quantum computing market size is predicted to reach around USD 5274.9 million by 2030. 

Read More: The Curious Case of Quantum Computing

The reason why quantum computing is in high demand is because its capabilities include solving complex optimization problems, simulating quantum systems, and enhancing cryptography. By leveraging the unique properties of quantum mechanics, quantum computers can explore multiple solutions simultaneously and find the optimal solution more efficiently than classical computers.

Data Observability

For organizations, it is quite challenging to have a tab on data reliability. In other words, managing and maintaining data is a new ball game altogether. With data observability, it is easy for them to monitor, track, and ensure the quality, reliability, and performance of data throughout its lifecycle. With 85% of organizations relying on data-driven decision-making and analytics, it is essential to have the right data at hand.

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Some of the key aspects of data observability for organizations include Data Quality Monitoring, Data Lineage and Traceability, Data Security and Compliance, Data Auditing and Logging. Having said this, it is evident that observability maintains data quality, security, and performance while ensuring compliance with regulations and supporting data-driven decision-making. By implementing robust data observability practices, organizations can get reliable insights and make better-informed decisions.

Cloud Computing: The Major Driving Factor

As we have read above, there are numerous innovations and technological advancements that are emerging on a regular basis. But do you know which technology is the backbone behind these successful innovations? The answer is Cloud Computing! As per reports, the global cloud computing market is projected to grow from $903.4 billion in 2023 to $1,701 billion by 2027, with a CAGR of 88.27%. In India, the public cloud services market is estimated to reach $10.8 billion by 2025. While Amazon Web Services (AWS), Google Cloud, and Microsoft Azure continue to capture the Indian market, Cyfuture is also racing ahead.  

If you know what cloud computing is, then you might be well aware of what it does and what its advantages are. For those who don’t know, cloud computing enables users to use various computing resources over the internet at any given point in time. All you need is an internet and a device through which you can access all the computing resources.

While cloud computing has various advantages, one of the major advantages is its capability to scale as per growing demands. This is exactly the reason why the cloud was able to adapt to quickly changing demands of various applications and cloud-based systems used by organizations. Additionally, the cloud offers robust security mechanisms that ensure all websites and applications are secure from cyber-attacks and external threats. This ensures business can innovate freely with peace of mind. Furthermore, cloud computing is highly cost-effective and affordable, which enables multiple businesses to leverage the power of cloud. 

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Driving Advancement and Innovation

In India, the cloud is growing at a faster pace than ever. In India, the public cloud services market is estimated to reach $10.8 billion by 2025. While there are multiple players in the market, Cyfuture dominates with a market value exceeding Rs. 2000 crore. While there are multiple startups and small-sized organizations entering the tech space, the key challenge for them is optimizing their budget and expenditures. Startups with unique ideas cannot always thrive due to this challenge. Thus, they need a reliable business consulting partner who can be their guide towards success. Cyfuture has been a great option for startups and small-scale organizations as it has helped them optimize their resources and achieve up to 40% cost savings. There is a higher demand for organizations like Cyfuture which are committed to harnessing the power of technology and driving cutting-edge innovations. 

Tech Innovations in 2024 cta

Wrapping Up

As we progress into 2024, there are various technological advancements that will be witnessed. From smart devices to cutting-edge AI solutions, our lives will become more tech-oriented. While cloud computing is the major technology driving digital transformation, Cyfuture is on its mark to leverage the power of cloud computing and provide state-of-the-art solutions. There is increasing demand for organizations like Cyfuture, which is all set to transform the world through advanced technologies that fuel innovation, foster equality, and bridge the gap between digital and physical worlds.

Formed in 2001 by our visionary leader Mr. Anuj Bairathi, Cyfuture has gained immense popularity among various businesses and organizations. This is because Cyfuture has proven excellence in driving digital transformation across various industries. Showing a positive year-on-year growth. Catering to over 10000 clients with 6 fortune 500 clients, there is absolutely no doubt that Cyfuture has been extremely successful in providing high satisfactory services. Be it Cloud Computing, Digital Transformation, Block Chain, BPO, or Any other service, Cyfuture has shown a true degree of professionalism and commitment. 

If you are looking forward to entering the digital landscape and leveraging the power of new technologies, consider speaking to our professionals. With over 21 years of experience, Cyfuture has a strong workforce of over 2000 employees that are committed to providing cutting-edge solutions while providing the utmost customer satisfaction. So why wait? Get in touch with our team of experts and make your dream a reality.

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